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Property profile & analytics
OFF-MARKET
Estimated value
$2,585,000
Manufacturing properties
24 Woodward St Worcester, MA 01610-2938
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US38-0547849
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
30,772 SF
Lot
1.24 ac (54,014 SF)
Zoning code
ML20
APN
WORC M:07 B:034 L:00035
UPID
US38-0547849
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Thermoplastics Co Inc Industrial Manufacturer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.94M
Blend (final)
Blend
$2.59M
Owner & transaction history
Murphy RT · 3 yrs held
Murphy RT
since 2023
7 recorded transactions
Zoning & alternative use
ML20 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$3.9M
+37.9%
Office building
$3.8M
+36.2%
Apartment house (5+ units)
$3.7M
+31.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Worcester submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Worcester submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$2,815,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$3,885,000
Change: +38% · Conversion: Difficult
OFFICE BUILDING
$3,835,000
Change: +36% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,690,000
Change: +31% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,085,000
Change: +10% · Conversion: Easy
Blend value · Realmo final
$2.59M
Range $2.33M – $2.84M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$84 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$34,720
Tax year 2024
Assessed value
$1,155,800
Assessed 2024
Previous assessed
$963,100
+20.0% YoY
Effective rate
3.00%
On assessed value
Assessed land
$134,200
Assessed improvement
$1,021,600
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
STEAM
Buildings
1
Stories
1
Units
1
Total area
30,772 SF
Lot
1.24 ac (54,014 SF)
Zoning code
ML20
APN
WORC M:07 B:034 L:00035
UPID
US38-0547849
Jurisdiction
WORCESTER
Zoning & alternative use
ML20 · Worcester, MA
Zoning ML20 · permitted uses
ML20 · Worcester, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Worcester. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$2.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.9M
OFFICE BUILDING
Est. value
$3.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.7M
WAREHOUSE, STORAGE
Est. value
$3.1M
INDUSTRIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
STEAM
Stories
1
Buildings
1
Units
1
Lot
1.24 ac
Current owner
From public records · entity-resolved
Murphy RT
Individual
Mailing address
34 CHICKERING RD, SPENCER, MA 01562-2814
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 27, 2023
—
Murphy RT
G P Murphy
Deed
—
Apr 28, 2017
—
G Peter Murphy
—
Deed
related
$50,000 · Central One FCU
Jan 30, 2014
—
G P Murphy
—
Deed Of Trust
related
$110,000 · Harvard Fndg LLC
May 25, 2004
—
G Peter Murphy
—
Deed Of Trust
related
$453,000 · Banknorth NA
Mar 22, 2002
—
G Peter Murphy
—
Deed Of Trust
related
$75,000 · Banknorth NA
Jan 12, 1990
—
G Peter Murphy
—
Deed Of Trust
related
$600,000 · Safety Fund National Bank
Jun 7, 1988
—
G Peter Murphy
—
Deed Of Trust
related
$150,000 · First Sfty Fnd Natlbk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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